Retirement benefits firm taps its president to take on CEO role

Daniel J. Houston was named CEO of Principal Financial Group, said a company spokeswoman.

Effective Tuesday, Mr. Houston replaced Larry D. Zimpleman, who will continue as chairman. Mr. Zimpleman will advise Mr. Houston as he takes on his new responsibilities.

This promotion is part of the board's planned succession process. In November, Mr. Houston was named chief operating officer and president at Principal Financial Group. He will continue to oversee these responsibilities.